XTEND, a Israel-based autonomous operating system developer, has acquired Performance Rotors, the Singapore-based drone inspection specialists.
XTEND said in a statement on Thursday that the acquisition will boost XTEND’s ability to offer human-guided, remote interactive operations in a range of inspection scenarios, and grow its global business.
Financial terms of the transaction, however, were not disclosed.
“Our acquisition of Performance Rotors marks the latest step in furthering XTEND’s vision of making remote interactive operations accessible to everyone, in a range of scenarios, including inspection, public safety and security,” said Aviv Shapira, Co-Founder, and Chief Executive Officer at XTEND.
Performance Rotors develops small, smart aerial drone solutions for deployment in dangerous and challenging confined space environments, making inspection work safer, more efficient and cost effective.
Its team of hardware engineers, software developers, robotics and computer vision experts has harnessed the power of custom-designed drones, artificial intelligence (AI), and data analytics to streamline operations, reduce costs, and eliminate hazards in heavy industries that is unparalleled by mainstream drones in the market.
“Performance Rotors’s mission has always been to develop drones and robotics solutions for data acquisition in GPS-denied and confined space environments, without the risk to human lives,” said Keith Ng, Co-Founder and Chief Executive Officer of Performance Rotors.
“Our extensive client base spans many of the world’s major oil and gas, maritime and infrastructure projects, and our hardware is being used across the world, particularly in Asia Pacific (APAC),
“We are confident that combining XTEND’s innovation XOS software with our world-class technology brings the best of the industry together in one powerful and easy to use solution that comprehensively addresses the critical challenges facing our customers today,” he added.
Chartered Group, who led the acquisition, is an innovative global private equity firm, which provides extraordinary global investment funds and opportunities for a greener and more digitalized world across several disciplinaries.
“The acquisition of Performance Rotors not only enriches XTEND’s offering in industrial inspection, but it will also enable Aviv and his team to further diversify their expertise in oil and gas, maritime and infrastructure projects, and develop XTEND’s software business globally, particularly here in APAC and Japan,” said Eyal Agmoni, Chairman of Chartered Group.
XTEND is a firm provides revolutionary human-guided autonomous machine systems that enable any operator to perform extremely accurate manoeuvres and actions, in any environment with minimal training.
XTEND’s patented XOS operating system enables effective, practical autonomy, by fusing the best of human intelligence and machine autonomy, to enhance the operator’s abilities, and simultaneously reduce the risk of injury.
It also allows professionals to control drones and smart machines and carry out complex tasks that require human interaction and decision-making safety and remotely.
Alongside expanding application of its easily programmable and configurable XOS operating systems into inspection, public safety, security, and other civilian markets, the XTEND team have recently been awarded several multi-million contracts with the U.S. Department of Defense and MAFAT, the Israeli Ministry of Defense’s Research & Development Directorate, to modernize their use of drone technology.
In both cases, XOS is already enabling military drone operators to interactively operate multiple smart machines from a remote, safe distance, with zero training.
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